Gibraltar Stock Exchange adds bitcoin instrument

Gibraltar Stock Exchange adds bitcoin instrument

Gibraltar Stock Exchange (GSX) claims it is the first execution venue in Europe to list a European regulated product based exclusively on the crypto currency.

BitcoinETI, an exchange traded instrument based solely on bitcoin investments, will be listed on both the GSX and Deutsche Boerse under the banner BTCETI.

"We are proud to welcome BitCoinETI, Europe's first publicly-traded bitcoin investment vehicle, to GSX," said Nick Cowan, managing director of GSX.

The listing will "bring a high level of transparency and liquidity to investors" added Ransu Salovaara, CEO of BitcoinETI sponsor Revoltura.

The BitcoinETI is a signal of Gibraltar's ambition to establish itself as a European crypto currency hub and it is expected that more digital currency instruments will be added to the exchange in the future, according to the peninsula's minsiter for Financial Services and Gaming, Albert Isola.

"We continue to work with the private sector and our regulator on an appropriate regulatory environment for operators in the digital currency space and the launch of this ETI on our stock exchange demonstrates our ability to be innovative and deliver speed to market," he said.

Meanwhile in the US, fintech investors Tyler and Cameron Winkelvoss are bidding to launch the first regulated bitcoin investment vehicle on a US exchange and are currently awaiting approval from the Securities and Exchanges commission after switching their listing venue from Nasdaq to BATS earlier this year.

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